General Electric chalks up more losses - Analysis - 12-10-2017

General Electric's stock (GE) kept falling in the intraday levels, recording a new loss of 1.24% in the last session, or 0.29 points, with negative pressure from the 50-day SMA, coupled with the dominance of the downward correctional short-term wave, and negative signals from the RSI. 

Therefore we expect more losses for the stock, targeting the support of 22.59, which represents the ratio 76.4% of Fibonacci retracement levels for an ascending wave in the medium term (from 19.37 to 33.00).